The biggest financial institution in Denmark, Danske Bank, has cut 250 employees as part of a new cost efficiency regime, a spokesman has confirmed.

In October, the group said that they aimed to reduce costs by one billion Danish crowns by the end of next year, the equivalent to $181.3 million. Job cuts have recently been ever present in Danske Bank’s plans as they announced 1,000 job cuts last year, not including the 2,000 they plan to cut by 2015.

According to media reports, most of the cuts have been at head office and other non-customer-facing operations.